Pathway Health Corp (CVE:PHC), one of the largest providers of out-of-hospital pain management services in Canada, has announced that the TSX Venture Exchange has published its final exchange bulletin in connection with the company's previously announced qualifying transaction.
“Trading in the company's common shares on the TSXV is expected to commence at market open on June 17, 2021,” said the company in a statement.
The Toronto-based company has established a network of nine specialized medical clinics across four provinces in Canada to treat patients with chronic pain. Pathway Health’s Virtual Clinic division also boasts the largest medical cannabis telemedicine network in Canada.
READ: Pathway Health on rapid growth pace for medical clinics to treat Canadians with chronic pain
In March 2021, Pathway Health and Colson Capital Corp, a capital pool company listed on the TSX Venture Exchange, closed an oversubscribed financing for $13.8 million as part of a go-public round, in line with a previously announced proposed reverse take-over of Colson by Pathway.
“We were very pleased with the level of interest in our company and also recognize that there is currently a great deal of attention on the healthcare/telehealth space,” Pathway Health president Wayne Cockburn earlier told Proactive in an interview.
The company said that it has received “final approval” from the TSXV to implement certain changes as allowed by Policy 2.4 relating to capital pool companies (CPC) which became effective on January 1, 2021.
In keeping with the new CPC policy, Pathway Health said it “obtained approval” of a majority of its “disinterested shareholders” at its shareholder meeting on March 31, 2021, to make amendments to the CPC escrow agreement which allows the company’s escrowed securities to now be subject to an 18-month escrow release schedule, rather than the 36-month escrow release schedule stipulated in the former CPC policy.
“The amendments only apply to the escrowed securities issued prior to the completion of the qualifying transaction,” noted Pathway Health, while adding that it has proceeded with the implementation of the changes, after the TSXV's final approval of such changes.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive